PoP Income Statement – June 2015

Welcome to our June 2015 Income Statement!

A crazy beautiful sunset in the neighborhood one night. The picture doesn’t quite do justice to the intensity of the colors…

 

Mr. PoP and I put these income statements together for two reasons. First, we want to be transparent about our finances because we’re trying to be role models for other people who are trying to plant their own pennies (and end up with dollars someday!). Second, we do this to make sure we’re on track to meet our own long-term goals. If you’re not tracking your income statement and balance sheet, we highly recommend you start using a program like Mint to keep track of it all.

On the surface, June was a month of crazy high spending for us, where we shelled out over $9,000 in personal spending in just 30 days.  But we’re not worried about it this time.

Nearly half of that amount was me ordering tile for the entire house (something we hope to never do again), and then another couple of grand went into the kitchen on top of that, too.  Ya know, for walls, a ceiling, and some other stuff. Nothing important or anything.  =)

Netting out the kitchen stuff, our personal expenses were just $2,754, well below where we’re aiming to be on a monthly basis (excluding the kitchen) this year, despite it not feeling like a particularly austere month.  So that’s a positive.

Here are the numbers…

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $14.  Yup, that’s it.  Big month.  =P

And here are the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $8,572
  • Rental Income: $1,510
  • Miscellaneous Income (rebates, reimbursements, etc.): $0
  • Total Income: $10,082

Expenditures

  • Groceries: $388
  • Eating Out: $266
  • Total Food: $654 – both of these categories are on the high side, but not wretched considering the state of our kitchen at the moment…
  • Mortgage: $1,151
  • Home Maintenance and Repairs: $195
  • Kitchen Renovations: $6,424 (includes new buying a whole house worth of tile!)
  • Bills/Utilities for Primary Residence: $172
  • Total Home: $ 7,942
  • Gas: $204
  • Auto Repairs / Maintenance: $0
  • Total Transportation: $204
  • General Shopping: $301 – Mostly clothes for Mr PoP bought on Father’s Day sales as well as a couple of gifts
  • Pet Supplies / Care: $0
  • Total Shopping: $301
  • Gym / Fitness: $53
  • Medical Treatment/Visit: $7
  • Media Subscriptions: $8
  • Media/Entertainment Non-Subscription: $9 – I went to see Jurassic World with a friend.  Well worth the $9!  
  • Total Health/Fitness/Entertainment: $77
  • Travel: $0
  • Total Miscellaneous: $0
  • Total “Personal Expenditures”: $9,178   ($2,754 excluding the kitchen reno items)  
  • Investment Properties: $890 – I’m insanely annoyed at the surcharges on our flood policy this year.  It seems quite punitive to access a fee 10x the size for investment properties as they do for homeowners since I can’t imagine a home is more susceptible to flooding when it is rented than when it is owner occupied.  If our house weren’t such a disaster, err construction zone, right now, we’d cancel this policy, close out the HELOC on the duplex and take one out against our own house.  
  • Total Investment Expenses: $890
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $10,082 – $9,178 – $890 = $14

Principal Paydowns / Savings Allocations

  • Holding Acct For Roth 2015 IRAs: $0 – which means we’ll need to put in $2K for this next month to stay on track
  • Transfer to Taxable Investment Account: $0
  • Total Principal Paydowns / Savings Allocations: $0
Net Income = EBPPS – (Principal Paydowns + Savings Allocations)
  • $10,082 – $10,068 = $14 = Net Income

How was your income and spending this month?

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